I think it would be helpful if our government looked for more ways for people to become self employed easier and remove some of the barriers that make that dream more difficult... instead of making dependency easier.
Rick- I am afraid it is going the opposite direction from my experience, and according to some news articles. Misclassification of workers and 1099s are on the IRS radar, scaring companies away from using independents.
LOL wrote: Rick- I am afraid it is going the opposite direction from my experience, and according to some news articles. Misclassification of workers and 1099s are on the IRS radar, scaring companies away from using independents.
LOL wrote: TM if you are considering working for your self as a 1099 independent I would advise you to research it first, check with someone in your line of work who already does it. Check the tax consequences and IRS rules. Good luck!
Not that complex, can figure it out after you start if you are going to play the child's game of 1099, but my sense is he is not a child.
No one in real business is 1099 unless they make less than 10g a year or they don't know much about taxes. They incorporate so they can lower their taxes and liability. As an S corp, my understanding is that you can take a significant portion of your income (the owner portion, not the worker portion) as dividends and not wages. This means lower unemployment, WC, SS and MC. On average someone who is 1099 will pay about 10% more taxes vs. INC. for the same work. Plus an INC. can NEVER be mistaken for an employee in any jurisdiction. 1099s are and in some states, 1099s are all but gone.
Corporations are not 1099ed. They still report, but their rates are simply lower. Also by the numbers 1099s cheat on their taxes, so they are a target. Do it right, if you are self employed, incorporate, get a good CPA, pay ALL your taxes, just pay less than the ignorant guys around you.
That being said I know plenty of tradesmen who did not incorporate because of the "paperwork" and "officialness". It is not a great day when I show yet another 50 year old electrician who has been making say $50k a year for 25 years that they are $100,000-200,000 poorer than they would have been if they just filled out that stupid formwork. This is very common for those that are not knowledgeable about the govt side business (which is common).
Yep, I'm definitely not a child although my wife wonders sometimes. I'm already set up with an S-Corp. I've done side work for years and can easily make the switch. It was nice to have the security of a 9-5 while the kids were home but now they're all moved out so I trying to figure out what's holding me back. Maybe the college bills...
Cool. Feel free to reach out if you need another small business perspective.
Please note, that despite all the bleeding hearts saying everything we must do collectively to help everyone in need (not necc the posters in this thread)...that I literally offered someone a family feeding self employment career here. I note this because I seem to keep getting, "you are heartless" PMs from people. I don't see a lot of these folks reaching out and offering practical or personal solutions to anything, just more govt for the sake of it.
I am glad to help anyone who wants to venture out on their own, as long as I have the time to do so.
on that note wrote: Cool. Feel free to reach out if you need another small business perspective.
Please note, that despite all the bleeding hearts saying everything we must do collectively to help everyone in need (not necc the posters in this thread)...that I literally offered someone a family feeding self employment career here. I note this because I seem to keep getting, "you are heartless" PMs from people. I don't see a lot of these folks reaching out and offering practical or personal solutions to anything, just more govt for the sake of it.
I am glad to help anyone who wants to venture out on their own, as long as I have the time to do so.
Doing what you have offered would do far more to transform a person's life than the government ever could by just cutting a check every month. I'm teaching my three kids early how to do the same... and I'm working on getting another business started at the same time.
on that note wrote: Cool. Feel free to reach out if you need another small business perspective.
Please note, that despite all the bleeding hearts saying everything we must do collectively to help everyone in need (not necc the posters in this thread)...that I literally offered someone a family feeding self employment career here. I note this because I seem to keep getting, "you are heartless" PMs from people. I don't see a lot of these folks reaching out and offering practical or personal solutions to anything, just more govt for the sake of it.
I am glad to help anyone who wants to venture out on their own, as long as I have the time to do so.
On Another Note, anyone who sends " "you are heartless" PMs" based on this board should probably get another hobby. :grilling:
on that note wrote: Cool. Feel free to reach out if you need another small business perspective.
Please note, that despite all the bleeding hearts saying everything we must do collectively to help everyone in need (not necc the posters in this thread)...that I literally offered someone a family feeding self employment career here. I note this because I seem to keep getting, "you are heartless" PMs from people. I don't see a lot of these folks reaching out and offering practical or personal solutions to anything, just more govt for the sake of it.
I am glad to help anyone who wants to venture out on their own, as long as I have the time to do so.
On Another Note, anyone who sends " "you are heartless" PMs" based on this board should probably get another hobby. :grilling:
[/b]
Well, BB I guess we CAN agree upon something! ...Generally speaking,PM's
are NOT something I do, regardless of a negative or positive comment.....I will most generally
put my response up for all to see....I do, however, attempt to KEEP pms private (when they
are addressed to me).....JMO
on that note wrote: Cool. Feel free to reach out if you need another small business perspective.
Please note, that despite all the bleeding hearts saying everything we must do collectively to help everyone in need (not necc the posters in this thread)...that I literally offered someone a family feeding self employment career here. I note this because I seem to keep getting, "you are heartless" PMs from people. I don't see a lot of these folks reaching out and offering practical or personal solutions to anything, just more govt for the sake of it.
I am glad to help anyone who wants to venture out on their own, as long as I have the time to do so.
On Another Note, anyone who sends " "you are heartless" PMs" based on this board should probably get another hobby. :grilling:
[/b]
Well, BB I guess we CAN agree upon something! ...Generally speaking,PM's
are NOT something I do, regardless of a negative or positive comment.....I will most generally
put my response up for all to see....I do, however, attempt to KEEP pms private (when they
are addressed to me).....JMO
Probably a lot of things but that would make for a dull thread.
...Generally speaking,PM's
